INSURANCE NEWS
Judge Bars EPA Effort to Send California Vehicle Emissions Rules to Congress
A judge in Washington on Wednesday blocked the U.S. Environmental Protection Agency from sending landmark California vehicle emissions rules for a potential repeal to the Republican-controlled Congress. The four waivers sent by the EPA to Congress for review granted California …
Lloyd’s Reports Improved Combined Ratio on H1 Underwriting Profit of £1.9B
Lloyd’s of London reported an improved first-half combined ratio of 90.8%, (H1 2025: 92.5%), which drove an underwriting profit of £1.9 billion (US$2.6 billion), compared with £1.5 billion (US$2.0 billion) in H1 2025. The major claims ratio improved to 6.8% …
People Moves: Silva to Succeed Retiring Welch as Amica Chief Claims Officer
Silva to Succeed Retiring Welch as Amica SVP and Chief Claims Officer Amica Mutual Insurance Co., headquartered in Lincoln, Rhode Island, announced that Sean Welch, senior vice president and chief claims officer, will retire at the end of the year …
UN Warns Global Warming Will Exceed 1.5C and Must Be Reversed
Since countries signed onto the 2015 Paris Agreement, the United Nations has regularly reported on the world’s progress at limiting global warming to 1.5C above pre-industrial levels. A landmark UN report published today brings an end to that era — …
Samsung-Affiliated Insurers Plan to Buy Canopius for $1.5 Billion, Newspaper Says
South Korea’s Samsung Group-affiliated insurers plan to acquire London-based reinsurance company Canopius by buying an additional 50% stake for more than 2 trillion won ($1.47 billion), the Korea Economic Daily said on Thursday. Samsung Fire and Marine Insurance Co. and …
Markets/Coverages: Philadelphia Insurance Debuts Platform for Storage Tank Policies
Philadelphia Insurance Companies (PHLY) announced the launch of PHLY TankEAS, a self-service online platform that allows agents and brokers to quote, bind, and issue admitted policies for eligible risks under PHLY’s Storage Tank Environmental Policy (STEP) program. The portal reduces …
Blackout Risk Rises as Heat Wave Stresses Largest US Electric Grids
The risk of power outages is expected to escalate across a broad swath of the United States as intense heat will test the capacity of electricity supplies serving millions of homes and businesses from the Midwest through the Mid-Atlantic. The …
US Government Backs OpenAI in New York Times Copyright Case
The Trump administration has filed a brief supporting OpenAI in its dispute with the New York Times NYT.N and other newspapers over the company’s use of their work to train the large language models behind ChatGPT, saying AI training generally …
Viewpoint: Commercial P/C Talent Gap 5 Years On—Are We Asking the Right Question
For more than four decades, I have worked across the commercial property/casualty insurance ecosystem. Over those years, I have watched our industry attract people, develop underwriters, transfer knowledge, promote talent, lose experienced practitioners, and adapt as the way we work …
Florida Judge Cans Investment Funds’ Lawsuit vs. Lighthouse Insurance Exec
A Florida judge this week effectively dismissed a lawsuit brought by private equity firms who charged that Lighthouse Property Insurance executives misled investors about the extent of losses from Hurricane Ida in 2021. By entering into a 2021 note purchase …
Judge Strikes Down New York Plan to Charge Fossil-Fuel Firms $75B for Climate Damages
New York’s attempt to make fossil fuel-producing industries pay into a $75 billion fund to repair the damage wrought by climate change was struck down by a federal judge, who said the sweeping law reaches beyond a state’s responsibility and …
Amwins Acquires Firearms Insurance Specialist Joseph Chiarello & Co.
Specialty insurance wholesale broker Amwins reports it has acquired Joseph Chiarello & Co., Inc., a managing general agent (MGA) specializing in commercial insurance for the firearms industry. Terms of the deal were not disclosed. Chiarello will join Amwins Underwriting, adding …